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A Year Into the Pandemic, Long-Term Financial Impact Weighs Heavily on Many Americans
Partisan divide among Americans on who should have the greatest responsibility for making sure people can meet basic economic needs during the pandemic
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- A Year Into the Pandemic, Long-Term Financial Impact Weighs Heavily on Many Americans
- Most in households that have faced job, wage loss see negative long-term financial impact of COVID-19
- About four-in-ten upper-income adults say their family’s financial situation has improved in the last year
- Majorities of Black and Hispanic Americans rate their personal finances negatively
- About three-in-ten lower-income adults say their family’s financial situation has worsened in the last year
- Most families with upper and middle incomes have been able to continue building their savings since the pandemic started
- Lower-income adults more likely than those with higher incomes to be spending more during the pandemic
- Most who are spending less are doing so because of a change in their daily activities, not because of financial worries
- About half of non-retired adults say the pandemic will make it harder for them to achieve their financial goals
- Many older adults who have faced job loss or a pay cut face delayed retirement
- Hispanic, Asian adults are more likely than other racial groups to say their household has lost either jobs or wages
- About half of employed adults who took a pay cut since the pandemic began are still earning less than before
- Women, those younger than 30, and lower-income workers among the most likely to have taken unpaid time off since the pandemic began
- Three-in-ten adults frequently worry about their debt
- About one-third of lower-income adults say they worry often about being able to buy enough food
- Many lower-income adults have taken consequential measures to make up for lost wages during the pandemic
- A majority of lower-income adults who expect to receive a payment from the government coronavirus aid package say they will use it on bills, essentials
- Lower-income adults more likely to say the federal aid package will help them and their household a great deal
- Partisan divide among Americans on who should have the greatest responsibility for making sure people can meet basic economic needs during the pandemic
- American Trends Panel recruitment surveys
- Invitation and reminder dates
- Weighting dimensions
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